Identify the Ways a Partnership Is Dissolved by Operation of Law

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The Answer is A partnership is dissolved by operation of law upon (a)the death of a partner, (b)the bankruptcy of a partner or of the partnership,or (c)the subsequent illegality of the partnership.Upon application by or for a partner,a court will order a dissolution if it finds that (a)a partner has been adjudicated mentally incompetent or suffers some other incapacity that prevents him from functioning as a partner; (b)a partner has engaged in conduct prejudicial to the business,has willfully or persistently breached the partnership agreement,or has conducted himself so that it is impracticable to carry on business; (c)the business can be carried on only at a loss; (d)other circumstances render a dissolution equitable.

Identify the Ways a Partnership Is Dissolved by Operation of Law

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Identify the Ways a Partnership Is Dissolved by Operation of Law

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Correct Answer:
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